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Q1. What does the term "economies of scale" mean?
Q2. Define "opportunity cost." Explain "comparative advantage" in terms of opportunity cost.
Q3. Why are workers in industrialized countries more productive than those in developing countries?
Q4. What are some arguments against free trade per this documentary?
Q5. What is the infant-industry argument?
Q6. Differentiate between import-substituting industrialization and export-oriented industrialization. Which approach has been more successful? Why?
A famous quarterback quite signed a $15 million contract providing $3 million a year for 5 years suppose that he gets paid at the end of each year.
Elucidate what are the effects of monetary policies on the economy's production and employment.
Use concepts that you have learned throughout the semester, such as consumer and producer surplus, scarcity, and how companies decide where to price products and how much to produce, and how we as consumers decide at what price we will purchase a ..
Tom total revenue from cafe is 50000 per year, he bought a coffee machine costing $5000 an interest rate of 5 percent and $3000 is a loan from the bank which the rates is 10%
Illustrate what is the gain for a nation that results from specialization in the production of products for which there is a comparative advantage.
Assume your boss purchase out every single pizza store in the US. Your cost-demand conditions are as follows: profit maximizing quantity - 60 pizzas; price - 20$ per piece;
Compare and contrast the monopolist and the monopolistic firm Monopolistic competition is an inefficient form of organisation. Discuss
b.) If the firm faces a horizontal supply curve of labor at W*, how would it determine E*, the equilibrium level of of employment c.) Since it is an upward sloping curve, it will not pick E*. How will it decide how much labor to employ, and how wi..
The percentage change in the number of trips in central London gives you one of the numbers you need to calculate an estimate of the elasticity of demand. The other number you need is the percentage change in the price a driver pays for driving in..
Using the marginal productivity theory of labor demand to forecast the impact on the company's employment level of following events. Describe why the change in employment occurs and show it in a graph.
When price is greater than average variable cost but less than average total cost at the profit-maximizing level of output, a firm should continue to produce the level of output at which marginal revenue equals marginal cost.
Provide an example when it would be appropriate to conduct a time-series or cross sectional data. Discuss the potential problems that may arise with your example and identify strategies for minimizing the impact of the potential problems.
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